Triple-Net Retail Building with
For Sale
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450 E 17th Ave, Denver, CO 80203
Triple-net retail building built in 2006, 100% occupied, with deeded parking for the first-floor retail owner.
Property Size10,732 SF
Price / SF$412.78
Days on Market492
Property Features for 450 E 17th Ave
General Information
Standard status
Active
Size
10,732 SF
Total Parking Spaces
33
Property subtype
RETAIL
Occupancy
100%
Building Details
Year Built
2006
Tenancy
Multi
Listing Agency:
Blue West Capital, LLC
(720) 821-2520
Listed By:
Josh Lorenzen · License #FA.100028152
(720) 821-2520
Source:
Moodyscre
Added: Apr 2, 2025
Changed: Jul 28
Last Checked: Aug 5 at 2:04PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Blue West Capital, LLC
Investment Insights
Based on property information with market context.
This triple-net retail building was built in 2006 and is currently 100% occupied. The property features multiple service-based tenants under triple-net leases with limited landlord responsibility, including Orangetheory Fitness, which exercised an option to extend early. Rumours Karaoke Cafe is expanding and is now occupying Suites B & D, and Toasts N Roasts recently extended its lease through 2033.
A weighted average lease term of 8.4 years supports ongoing income stability. The building is located at 450 E 17th Ave, Denver, CO 80203, and includes 33 deeded parking spaces for the first-floor retail owner—12 subsurface spaces and 21 spaces in the outdoor parking lot.
All offices have been sold as condos, which is intended to help keep future vacancy low. The tenant leases also include primary term rent increases designed to hedge against inflation.
A weighted average lease term of 8.4 years supports ongoing income stability. The building is located at 450 E 17th Ave, Denver, CO 80203, and includes 33 deeded parking spaces for the first-floor retail owner—12 subsurface spaces and 21 spaces in the outdoor parking lot.
All offices have been sold as condos, which is intended to help keep future vacancy low. The tenant leases also include primary term rent increases designed to hedge against inflation.
Key Highlights
- 100% occupied triple‑net retail building with limited landlord responsibility
- Weighted average lease term of 8.4 years
- Multiple tenant lease extensions and options: Orangetheory Fitness extended early; Toasts N Roasts extended through 2033; Rumours Karaoke Cafe expanding into Suite D
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $220.2k | $20.52 |
| − Vacancy | −$10.4k | −$0.96 |
| EGI | $209.9k | $19.56 |
| − OpEx | −$63.0k | −$5.87 |
| NOI | $146.9k | $13.69 |
10,732 SF · lease $20.52/SF/yr · vacancy 4.70% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.10M
$1.84M – $2.45M
NOI $146,909 @ 7.0% cap · market cap 3.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.42M
$2.99M – $3.99M
NOI $239,147 @ 7.0% cap · market cap 5.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
11,008
Businesses Nearby
217k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 42%
Shops & Services 25%
Hotels & Casinos 17%
Groceries 15%
Safeway
Groceries
32,927 visits/mo
0.5 miles
McDonald's
Dining
31,534 visits/mo
0.2 miles
Sheraton Denver Downtown Hotel
Hotels & Casinos
26,787 visits/mo
0.4 miles
Wendy's
Dining
15,486 visits/mo
0.3 miles
Yard House
Dining
12,064 visits/mo
0.4 miles
Demographics for 80203, CO
22,883
Population
16,887
Households
1.4
Avg Household Size
33
Median Age
69%
College-Educated
97%
High-School Grad
1.1 sq mi
ZIP Area
20,803
Density / Sq Mi
$74,654
Median Household Income
$59,229
Median Earnings
$1,569
Median Rent
$462,500
Median Home Value
Market
Vacancy Rate% for Retail in Denver, CO
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Triple-net retail building built in 2006, 100% occupied, with deeded parking for the first-floor retail owner.
Where is this retail space located?
The property is located at 450 E 17th Ave Denver, CO.
What is the asking price?
The asking price for this property is $4,430,000.
What are key features of this property?
This property features: 100% occupied triple‑net retail building with limited landlord responsibility; Weighted average lease term of 8.4 years; Multiple tenant lease extensions and options: Orangetheory Fitness extended early; Toasts N Roasts extended through 2033; Rumours Karaoke Cafe expanding into Suite D
